I just completed reading The Intelligent Entrepreneur: How Three Harvard Business School Graduates Learned the 10 Rules of Successful Entrepreneur written by Bill Murphy Jr.
Over all it was a great book. It followed the lives and start-ups of 1998 Harvard Business School Graduates Marc Cendella, www.theladders.com, Marla Malcolm-Beck, www.bluemercury.com, and Chris Michel, www.military.com and Affinity Labs.
Every other chapter in the book switched between the story of the three charators and a chapter on one of the 10 rules.
The rules that Bill Murphy Jr. came up with are
1. Make the commitment
2. Find a problem, then solve it
3. Think Big, Think New, Think Again
4. You can’t do it alone
5. You must do it alone
6. Manage risk
7. Learn to lead
8. Learn to sell
9. Persist, persevere, and prevail
10. Play the game for life
I think for the most part hit covered all the ground on becoming an entrepreneur. The stories of the three main characters made the book an easy, interesting read. I especially enjoyed the story of Chris Michel. He was a career Navy man that had a near tragedy change the course of his life much like me. He went through tremendous hardship getting his business started. In the end he came out on top and really showed genuine interests in his businesses and what he was doing. He wasn’t chasing a buck; he was just living life to its fullest.
I didn’t like how the book chose HBS grads and followed them exclusively. They were able to raise capital and tap contacts almost at ease. The majority of entrepreneurs that are reading the books probably do not have the contacts or possibilities of an HBS grad.
It would have been nice to see how an intelligent entrepreneur can come up from nothing and find a way to make their dream a reality.
In the end I do not believe the fact that he chose to follow HBS grads changes the rules he put forth or the lessons to be learned. It just seems so much easier for an HBS grad that it does for most of us.
Overall I would defiantly recommend the book. The book teaches that anyone can become an intelligent entrepreneur. It also talks about how becoming an entrepreneur is considered risky by most, but in fact it may be less risky then accepting a job with a company. (more on this in a latter post)
I will also be posting on other parts of this book that stuck out to me in the future.
Have you read it? What did you think?